The HF Markets Group has started 2022 by securing a license from the Capital Markets Authority (CMA) of Kenya. The broker will be regulated through HFM Investments Limited, under license number 155.
CMA Regulatory Oversight
Amidst a rise in demand for forex trading services in Africa, HotForex has secured a license from the financial regulator in Kenya. Under the new license, the brand can offer retail trading products, including leveraged CFDs and promotional incentives. This is good news for the global brokerage as the CMA has increasingly warned local investors against opening accounts with unregulated trading platforms.
Oversight from the CMA also compliments existing licenses HotForex has in the region and further afield:
- The Financial Sector Conduct Authority (FSCA) of South Africa
- The Cyprus Securities and Exchange Commission (CySEC)
- The Financial Services Commission (FSC) of Mauritius
- The Financial Conduct Authority (FCA) in the UK
- The Dubai Financial Services Authority (DFSA)
HotForex commented on the news: “This new license marks a new milestone in the steady growth of HotForex, which has become a truly global and multi-regulated brand over the past ten years.”